|
Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
EMERSON CLIMATE TECHNOLOGIES (INDIA) LIMITED (w.e.f. 25.09.2006) |
|
|
|
|
Formerly Known
As : |
KIRLOSKAR COPELAND LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 23, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
19.03.1993 |
|
|
|
|
Com. Reg. No.: |
11-071223 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 90.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29192PN1993PLC071223 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNEK05318F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK7291C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture and |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 9470000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track record. Overall financial position of the company appears to be strong and
healthy. Company is progressing well. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal for business dealing at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and acquisition
guidelines, cleared by a group of ministers, will be out before the auction
begins so that players can make informed decisions on the auctions.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Raghavendra Kulkarni |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-2162-224200 |
|
Date : |
30.12.2013 |
LOCATIONS
|
Registered Office : |
Plot No. 23, Rajiv Gandhi Infotech Park, Phase Ii, Hinjewadi, Pune –
411057, Maharashtra, India |
|
Tel. No. : |
91-20-42002000 |
|
Fax No. : |
91-20-42002099 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1: |
|
|
Tel No.: |
91-2164-241002 |
|
Fax No. : |
91-2164-24112 |
|
|
|
|
Factory 2: |
Atit- Pali Road, Atit, Satara - 415519,
Maharashtra, India |
|
Tel. No. : |
91-2162-224200 |
|
Fax No. : |
91-2162-262069 |
DIRECTORS
As on 23.05.2013
|
Name : |
Mr. Ram Rama Krishnan |
|
Designation : |
Director |
|
Address : |
11107, Ashburv Meadows Dr. Dayton OH, USA 45458 |
|
Date of Birth/Age : |
12.02.1971 |
|
Date of Appointment : |
05.07.2011 |
|
DIN No. : |
03591766 |
|
|
|
|
Name : |
Mr. Sridar Narayanswami |
|
Designation : |
Managing director |
|
Address : |
Flat E701 & 701A, Lunkad Skylounge, Kalyani Nagar, Pune – 411038, Maharshtra, India |
|
Date of Birth/Age : |
20.07.1973 |
|
Date of Appointment : |
01.10.2012 |
|
DIN No. : |
05290172 |
|
|
|
|
Name : |
Dara Phirozeshaw Mehta |
|
Designation : |
Director |
|
Address : |
10, South Lands, 177, Colaba Road, Mumbai – 411005, Maharashtra, India |
|
Date of Birth/Age : |
13.07.1933 |
|
Date of Appointment : |
26.02.2002 |
|
DIN No. : |
00041164 |
|
|
|
|
Name : |
Mr. Dilip S Sathe |
|
Designation : |
Director |
|
Address : |
2719, Meadow Point Dr., Troy, Ohio, USA 45373 |
|
Date of Birth/Age : |
05.04.1954 |
|
Date of Appointment : |
26.07.2006 |
|
DIN No. : |
00613536 |
|
|
|
|
Name : |
Mr. Pratap Parshuram Chavan |
|
Designation : |
Director |
|
Address : |
111, Shelford Way, Dayton OH, USA 45429 |
|
Date of Birth/Age : |
05.04.1954 |
|
Date of Appointment : |
10.02.2004 |
|
DIN No. : |
00391752 |
|
|
|
|
Name : |
Pradipta Sen |
|
Designation : |
Director |
|
Address : |
304/2, Palms, South City-I, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
07.10.1958 |
|
Date of Appointment : |
26.07.2006 |
|
DIN No. : |
00051758 |
|
|
|
|
Name : |
Mr. Christopher Lee Tucker |
|
Designation : |
Director |
|
Address : |
25, Palm Drive, Red Hill, Peninsula, Stanley, Hongkong |
|
Date of Birth/Age : |
12.04.1971 |
|
Date of Appointment : |
24.11.2010 |
|
DIN No. : |
03311518 |
|
|
|
|
Name : |
Cedric Soenens |
|
Designation : |
Nominee director |
|
Address : |
4/5, Baan Koon, Floor 5, Soi Pattan Asin, Nanglinchee, Thungma Sa Thorn, Bangkok, Thailand 10120 |
|
Date of Birth/Age : |
26.03.1970 |
|
Date of Appointment : |
10.03.2010 |
|
DIN No. : |
02978097 |
|
|
|
|
Name : |
Mr. Deepak Takkar |
|
Designation : |
Whole-time director |
|
Address : |
6, Building 3D, Sidharth Nagar, Aundh, Pune – 411007, Maharashtra India |
|
Date of Birth/Age : |
21.08.1959 |
|
Date of Appointment : |
23.05.2013 |
|
PAN No. : |
AADPT3058J |
|
DIN No. : |
06552360 |
KEY EXECUTIVES
|
Name : |
Vineet Baldevraj Duggal |
|
Designation : |
Secretary |
|
Address : |
House No.14, Clover Pinnacle Ridge, Nibm Road, Kondhwa – 411048,
Maharashtra, India |
|
Date of Birth/Age : |
13.08.1967 |
|
Date of Appointment : |
27/10/1995 |
|
PAN No.: |
AANPD1391C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.05.2013
|
Names of Shareholders |
|
No. of Shares |
|
Copeland Corporation LLC, USA |
|
900000 |
|
Pradipta Sen |
|
1 |
|
Total |
|
900001 |
As on 23.05.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Sale of compressors and related components
in the domestic and export markets and trading in compressors in the domestic
market procured from its group companies and also renders after sales
services in the domestic market and acts as a commission agent in India for
other group companies. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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|
Countries : |
Middle East |
||||||
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Imports : |
|
||||||
|
Products : |
Raw Materials |
||||||
|
Countries : |
· China Germany |
||||||
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|
||||||
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Terms : |
|
||||||
|
Selling : |
L/C and Credit |
||||||
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|
||||||
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
1000 (Approximately) |
|
|
|
|
Bankers : |
· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India Bank of India, Industrial Finance Branch, LIC Building;
6/7 Shivajinagar; University, Pune - 411005, Maharashtra, India Citi Bank, Pune Main Branch, Maharashtra, India · HSBC Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BBSR and Company Chartered Accountants |
|
Address : |
Pune, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAKFB4397F |
|
|
|
|
Holding Company: |
Copeland Corporation LLC, USA |
|
|
|
|
Ultimate Holding
Company: |
Emerson Elecric co. |
|
|
|
|
Other Related
Party: |
· Emerson ClimateTechnologies Inc. Emerson Climate Technologies GmbH Emerson Electric (Thailand) Limited Fusite Division Emerson Electric (Asia) Limited |
|
|
|
|
Associate: |
· Emerson climate technologies (Suzhou) Company Limited Emerson Electric Company (India) Private Limited CIN No.: U29190MH1995PTC087858 Emerson FZE clive Samuels and Asso., Inc EMR (Asia) Limited Emerson Electric co. Brasil Limited Leroy Somer India Private Limited CIN No.: U31200DL1991PTC043306 Emerson Network Power (Pune) Private Limited CIN No.: U32107PN1996PTC097677 Emerson Argentina S. A. |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.100/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900,001 |
Equity Shares |
Rs.100/- each |
Rs. 90.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
90.000 |
90.000 |
90.000 |
|
(b) Reserves & Surplus |
2278.388 |
1637.588 |
1374.861 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2368.388 |
1727.588 |
1464.861 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
86.079 |
77.483 |
77.255 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
88.955 |
75.711 |
71.442 |
|
Total Non-current Liabilities (3) |
175.034 |
153.194 |
148.697 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
45.000 |
90.000 |
0.000 |
|
(b) Trade payables |
1505.495 |
1373.112 |
1046.062 |
|
(c) Other current
liabilities |
199.191 |
116.459 |
143.501 |
|
(d) Short-term provisions |
116.597 |
76.959 |
46.321 |
|
Total Current Liabilities (4) |
1866.283 |
1656.530 |
1235.884 |
|
|
|
|
|
|
TOTAL |
4409.705 |
3537.313 |
2849.442 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
695.104 |
582.349 |
568.443 |
|
(ii) Intangible Assets |
3.816 |
32.915 |
61.520 |
|
(iii) Capital
work-in-progress |
24.575 |
8.017 |
12.203 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
812.594 |
481.808 |
282.881 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1536.089 |
1105.089 |
925.047 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
586.608 |
460.958 |
532.021 |
|
(c) Trade receivables |
1349.044 |
1042.922 |
631.490 |
|
(d) Cash and cash
equivalents |
140.614 |
273.475 |
273.712 |
|
(e) Short-term loans and
advances |
794.942 |
654.869 |
487.172 |
|
(f) Other current assets |
2.408 |
0.000 |
0.000 |
|
Total Current Assets |
2873.616 |
2432.224 |
1924.395 |
|
|
|
|
|
|
TOTAL |
4409.705 |
3537.313 |
2849.442 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7035.815 |
5084.302 |
3857.375 |
|
|
|
Other Income |
391.703 |
316.855 |
162.450 |
|
|
|
TOTAL (A) |
7427.518 |
5401.157 |
4019.825 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4619.564 |
3357.365 |
2612.570 |
|
|
|
Purchases of stock-in-trade |
102.005 |
44.259 |
54.635 |
|
|
|
Employee benefit expense |
331.822 |
252.634 |
220.343 |
|
|
|
Other expenses |
1401.152 |
1145.564 |
1010.643 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(73.272) |
112.921 |
(85.681) |
|
|
|
TOTAL (B) |
6381.271 |
4912.743 |
3812.510 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
1046.247 |
488.414 |
207.315 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
9.447 |
6.755 |
1.829 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1036.800 |
481.659 |
205.486 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
117.653 |
115.712 |
105.976 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
919.147 |
365.947 |
99.510 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
278.348 |
103.220 |
(7.597) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
640.799 |
262.727 |
107.107 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
4180.683 |
2590.446 |
1329.043 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
712.00 |
291.92 |
119.01 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
8.63
|
4.86 |
2.66 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.06
|
7.20 |
2.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.96
|
10.37 |
3.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.21 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.02
|
0.05 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.54
|
1.47 |
1.56 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CURRENT MATURITIES OF
LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Intercorporate borrowings |
45.000 |
90.000 |
|
Total |
45.000 |
90.000 |
CHANGE OF ADDRESS
The registered office of the company has been shifted from 1202/1, Ghole Road, Pune – 411005, Maharashtra, India to the present address w.e.f. 06.07.2009.
COMPANY OVERVIEW
Subject is a 100% subsidiary of Copeland Corporation LLC, USA (the holding Company). The holding company is a wholly owned subsidiary of Emerson Electric Co., USA (the ultimate holding company).
The Company is engaged in the manufacture and sale of compressors and related components in the domestic and export markets and trading in compressors in the domestic market procured from its group companies. The Company also renders after sales services in the domestic market and acts as a commission agent in India for other group companies.
The Company is headquartered in Pune with manufacturing location in Atit and Research and development facility at Karad. In addition the Company has 5 regional offices across India.
OPERATIONS AND
DIVIDEND :
The Company registered a robust growth in its India and exports business. They launched high efficiency residential scroll for India Residential AC market which was well received at key OEMs. They also conducted end customer campaign on the key benefits of this product and significantly increased penetration in Commercial AC business in India by gaining applications at key OEMs. The Company continued to expand their presence in Commercial Refrigeration business with the widest range of products that it offers to Indian customers.
Sales and other income of the Company for the year 2012-2013 were Rs. 7427.520 million as compared to Rs. 5401.150 million in 2011-12. Profit before tax was at Rs. 919.150 million for the year 2012-2013 as compared to Rs. 365.950 million for the year 2011-12.
FIXED ASSETS
v
Tangible
Assets
Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
v
Intangible Assets
Computer
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.00 |
|
|
1 |
Rs.102.174 |
|
Euro |
1 |
Rs.85.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
61 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.